Signet unit to pay $11 million to CFPB, New York over allegations of opening accounts without consent

Signet Jewelers division Sterling Jewelers has agreed to pay $10 million to the Consumer Financial Protection Bureau and $1 million to the state of New York to settle claims it's opened store credit-card accounts with customer consent. According to the settlement, Sterling also enrolled customers in payment-protection insurance without their consent and misrepresented to consumers the financing terms associated with the credit-card accounts. Sterling does business as Kay Jewelers, Jared The Galleria of Jewelry, and a variety of regional brands, including JB Robinson Jewelers, Marks & Morgan Jewelers, Belden Jewelers, Goodman Jewelers, LeRoy's Jewelers, Osterman Jewelers, Rogers Jewelers, Shaw's Jewelers, and Weisfield Jewelers.

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